Retail

J.C. Penney is making headlines again thanks to shareholder Alan Marcus, who is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.

The report said Marcus, who bought 300 shares of Penney stock on Sept. 26 shortly before the new stock was announced, is trying to obtain class-action status for his suit.

Rochester, N.Y. - Teamsters Local 118 members on Monday overwhelmingly rejected a contract offer from Wegmans Food Markets, Inc. that would eliminate the pensions of more than 900 Rochester employees and not provide health care for their spouses. Local 118 will immediately request the participation of the Federal Mediation and Conciliation Service to settle the outstanding contract.

Hoffman Estates, Ill. – Sears Holdings will integrate the Netpulse One digital platform into its FitStudio by Sears online fitness offering.

FitStudio by Sears is an online community providing resources such as exercise programs, video workouts, and expert advice. NetpulseOne will enable FitStudio to deliver an enhanced customer experience by providing the ability to connect to fitness equipment, mobile apps and personal fitness devices as well allowing FitStudio members to set goals and participate in challenges and events.

After more than 50 years in business, JC's 5 Star Outlet/J.C. Penney Outlet will be closing all 15 outlet stores in 14 states. 

"Going Out of Business" or "Total Inventory Blowout" sales will start Wednesday in each outlet store, offering consumers $70 million worth of name brand and private label products at significant discounts from the already low outlet prices of 25-75% off comparative retail.

Chicago -- SMS Assist announced it has appointed Geoffrey Wigner as executive VP of facilities for the Chicago-based technology-driven facilities maintenance and management company.
 

New York -- American Realty Capital – Retail Centers of America, Inc. ("ARC Retail") closed its acquisition of the Tiffany Springs MarketCenter, located in Kansas City, Mo., on Sept. 26, for a contract price of $53.5 million, exclusive of closing costs. The purchase of the Tiffany Springs MarketCenter represents ARC Retail's third acquisition of a retail power center with multiple credit tenants.

Walmart opened a dedicated online fulfillment center in Fort Worth this week and said its largest facility ever will open next spring in Bethlehem, Pa.

Meijer plans to address the need many consumers have for more information about the health insurance exchanges that are part of the Patient Protection and Affordable Care Act.